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Tuesday, November 04, 2014

The EU £1.7BN Surcharge

The government has woken up to the fact that the voters know that the EU isn't working. As such Cameron boldly stated the other week that he would not pay the £1.7BN surcharge.

He has, however, modified this now saying that he won't pay "all" of it.

Now comes the tricky question of interest payments (of £2M per week), if the bill is not steeled in full by the 1 December deadline.

Cue behind the scenes wrangling and negotiations.

The reality will be that Britain will pay the bill, probably late in order not to upset the Rochester by election, but not the interest.

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